Cardinal Point Capital Management ULC Takes $233,000 Position in First Solar, Inc. $FSLR

Key Points

• Cardinal Point Capital Management ULC acquired a new position in First Solar, Inc. valued at approximately $233,000, purchasing 1,405 shares in the second quarter.
• First Solar reported $3.18 earnings per share for the last quarter, exceeding estimates of $2.68, with a net margin of 28.95% and revenue of $1.10 billion, up 8.6% year-over-year.
• First Solar's stock has shown significant interest from institutional investors, who now own 92.08% of the company, with multiple brokerages assigning ratings that indicate a positive outlook for the stock.

Cardinal Point Capital Management ULC acquired a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,405 shares of the solar cell manufacturer's stock, valued at approximately $233,000.

Other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC lifted its holdings in shares of First Solar by 126.9% during the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of First Solar during the first quarter valued at $25,000. First Pacific Financial purchased a new stake in shares of First Solar during the second quarter valued at $41,000. Finally, Colonial Trust Advisors purchased a new stake in shares of First Solar during the first quarter valued at $32,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

Shares of FSLR stock opened at $241.41 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $248.04. The stock's 50-day moving average is $215.24 and its two-hundred day moving average is $178.47. The firm has a market cap of $25.89 billion, a P/E ratio of 20.65, a PEG ratio of 0.44 and a beta of 1.38.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $3.25 EPS. The business's revenue was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on FSLR. Evercore ISI began coverage on First Solar in a report on Monday, October 6th. They set an "in-line" rating and a $240.00 target price for the company. UBS Group reaffirmed a "buy" rating and set a $275.00 target price (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Wolfe Research upped their target price on First Solar from $209.00 to $232.00 and gave the company an "outperform" rating in a report on Wednesday. BMO Capital Markets increased their price objective on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Morgan Stanley increased their price objective on First Solar from $215.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.43.

Insider Activity

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,715 shares of company stock worth $5,733,305. Insiders own 0.48% of the company's stock.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.

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